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off of the so-called fiscal cliff. after a day of intense talks, senate majority leader, harry reid said there will not be a deal tonight. >> there is a distance between the two sides, tpheg orbingiations continue. >> if republicans and democrats can not strike a deal, taxes will go up for almost every american, automatic cuts will kick in and millions will loose unemployment benefits. >> i want everyone to know i am will willing to get this done but i need a dance partner. >> they quickly cut the deficit by slowing the growth of social security but the senate says there is a little bit of movement when they are compromising which americans should should get ready to pay a higher tax rate. >> reporter: in an unusual move republicans here on capitol hill called on the nation's number 2 democrat, vice president joe biden, to help in negotiations, this as the white house puts the blame on the impasse on the gop. >> they say the biggest priority is making sure we deal with the deficit in a serious way. the way they are beh
off of the so-called fiscal cliff. after a day of intense talks, senate majority leader, harry reid said there will not be a deal tonight. >> there is a distance between the two sides, tpheg orbingiations continue. >> if republicans and democrats can not strike a deal, taxes will go up for almost every american, automatic cuts will kick in and millions will loose unemployment benefits. >> i want everyone to know i am will willing to get this done but i need a dance partner....
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Dec 28, 2012
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seema, thank you very much. >>> in the meantime, it is what everybody is talking about, the fiscal cliff deadline. in just one hour leaders from both sides of the aisle are scheduled for a sitdown and pow wow with president obama. our eamon javers is there. can we expect the best? >> everybody is certainly talking about it but there are not a whole lot of people who know what will happen here. the sliver of hope is the consensus expectation in watching ton is that the president might lay down an offer for a small deal, some type of extension of the bush tax cut for those under 250 or maybe on up to $400,000 if that's where negotiations take him. and then throw in a bunch of other cats and dogs like, for example, an extension of unemployment insurance for those people whose unemployment insurance is going to run out. a couple of other items and call that a deal. that may be where we're headed here, but we simply don't noah head of this meeting, which is now just about 55 minutes away. meanwhile, here in washington at least one republican senator took the opportunity today to say all of th
seema, thank you very much. >>> in the meantime, it is what everybody is talking about, the fiscal cliff deadline. in just one hour leaders from both sides of the aisle are scheduled for a sitdown and pow wow with president obama. our eamon javers is there. can we expect the best? >> everybody is certainly talking about it but there are not a whole lot of people who know what will happen here. the sliver of hope is the consensus expectation in watching ton is that the president...
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Dec 28, 2012
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still no fix on the fiscal cliff, but there are developments right now, as you know. brian just mentioning there. various congressional leaders and the president getting set to meet at the white house this hour to work on last-minute negotiations all in an effort to avoid those series of tax increases and spending cuts due to take effect next year. what we hear is the senate leaders are there. speaker boehner and minority leader nancy pelosi have yet to arrive, but now we're showing you live pictures. maybe somebody is going to get out of that car, and we'll see if any of the other leaders will be heading to the white house. this is speaker boehner right now heading into the white house. we'll keep you updated as this hour progresses here. >> indeed, meantime, more red arrows here on wall street as investors are awaiting for any signs of progress from the white house meeting which is about to get under way. right now we're sitting smack on 13,000. we've clawed back from being below that earlier on today. the nasdaq has also moved to the downside by half a percent as w
still no fix on the fiscal cliff, but there are developments right now, as you know. brian just mentioning there. various congressional leaders and the president getting set to meet at the white house this hour to work on last-minute negotiations all in an effort to avoid those series of tax increases and spending cuts due to take effect next year. what we hear is the senate leaders are there. speaker boehner and minority leader nancy pelosi have yet to arrive, but now we're showing you live...
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america staring down the fiscal cliff. t-minus nine hours and counting and washington is wasting no time. senate minority leader mcconnell saying both sides are close to a deal. it's about time. >> my preference would have been to solve all these problems in the context of a larger agreement, a bigger deal, a grand bargain. whatever you want to call it. that solves our deficit problems in a balanced and responsible way. with this congress, that was obviously a little bit too much to hope for at this time. it may be we can do it in stages. >> there are a number of issues on which the two sides are still apart but negotiations are continuing as i speak. but we really are running out of time. >> the vice president and i have worked together on solutions before and i believe we can again. >> no holiday for the best political team around. a triple threat, luke russert and mike viqueira on the capitol hill and kristen welker from the white house. are you happy to be working on the holiday? >> it's fantastic. >> absolutely. >> so
america staring down the fiscal cliff. t-minus nine hours and counting and washington is wasting no time. senate minority leader mcconnell saying both sides are close to a deal. it's about time. >> my preference would have been to solve all these problems in the context of a larger agreement, a bigger deal, a grand bargain. whatever you want to call it. that solves our deficit problems in a balanced and responsible way. with this congress, that was obviously a little bit too much to hope...
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Dec 29, 2012
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right now we are coming up 73.5 hours of going over the fiscal cliff the one that they are pushing us off and everyone s scrambling to scrap scrape toga solution. is the house doing anything at all. congressman aaron schact joins us. >> good evening, sir. >> republicans blame democrats and democrats blame republicans and the leadership as it goes beyond that you have political oh opponents it but you rise above it and have solutions for the american people. where is that leadership? >> it has been lacking without doubt and look, kudos to you for holding elected officials feet to the fire. my party and colleagues and myself included it is frustrating as a house member. i can't be a house member and senator and president all at once. the house has led. we have tried to be the party of ideas. the body of ideas. as you know this summer we passed a bill to keep tax rates low for everyone. it has been dead in the senate. harry reid won't take it up. after the election john boehner got criticism even from my party saying look, mr. president we will meet you halfway and give you the $800 bill
right now we are coming up 73.5 hours of going over the fiscal cliff the one that they are pushing us off and everyone s scrambling to scrap scrape toga solution. is the house doing anything at all. congressman aaron schact joins us. >> good evening, sir. >> republicans blame democrats and democrats blame republicans and the leadership as it goes beyond that you have political oh opponents it but you rise above it and have solutions for the american people. where is that leadership?...
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just ten hours left in this year in washington and ten years until we fall off the fiscal cliff. can we get it done? >> working the phones day and night, let's goat john harwood in washington. lots and lots of headlines, fill us in. >> the latest mandy is that negotiations agreed on the middle class portion of the tax cuts. these are talks between biden and mcconnell. what they agreed to is 39%, 39.6, rather, of individuals over $400,000 in income. married couples above $450,000. estate tax to 40% for estates over $5 million p.m. and rise in dividend rates. can they resolve the disagreement offer spending cuts? democrats are resisting. they want a longer perhaps one-year delay and president obama was trying to rally those disappointed democrats with remarks that he just made by citing gains that he had won in terms of energy and education tax breaks he supported in the past and vowing to seek more revenue later on when we get to the discussion of entitlement cuts or what republicans believe is safer ground. saw some tweets saying he is trying to gum up the works. but there is the
just ten hours left in this year in washington and ten years until we fall off the fiscal cliff. can we get it done? >> working the phones day and night, let's goat john harwood in washington. lots and lots of headlines, fill us in. >> the latest mandy is that negotiations agreed on the middle class portion of the tax cuts. these are talks between biden and mcconnell. what they agreed to is 39%, 39.6, rather, of individuals over $400,000 in income. married couples above $450,000....
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Dec 31, 2012
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last trading hour for the whole year. the fiscal cliff, there may be a merge. we'll bring more on that. >> take a look at the charts. this tells the story in the last few minutes with mitch mcconnell on the floor saying that we are very, very close. we'll get more details from john harwood in a moment, but right now the markets are voting and they're giving thumbs up with the dow up 138 points. nasdaq up 2% right now. it's been strong all day. now at 3,020. and the s&p up 1.5%. >> look at those stocks go. president obama saying a fiscal cliff agreement is quote, in sight. mitch mcconnell moments ago saying quote, we are very, very close. >> to d.c. and john harwood. he and eamon have been monitoring all day. why are we close but not there yet? what's left, john? >> what's left is the agreement between the two parties on delaying those automatic across the board defense and domestic budget cuts which nobody wants. they deliberately set up so they wouldn't take place. democrats want to defer those for a year. republicans say we're only going to put them off to th
last trading hour for the whole year. the fiscal cliff, there may be a merge. we'll bring more on that. >> take a look at the charts. this tells the story in the last few minutes with mitch mcconnell on the floor saying that we are very, very close. we'll get more details from john harwood in a moment, but right now the markets are voting and they're giving thumbs up with the dow up 138 points. nasdaq up 2% right now. it's been strong all day. now at 3,020. and the s&p up 1.5%....
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Dec 26, 2012
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over to you. >>> in our next hour, more nonsense. have you heard about the fiscal cliff? we go deeper into another cliff that's more of a threat to our economy. it is the container cliff. >>> i own maria's italian kitchen. we employ 400 people. the fiscal cliff is going to impact our business, who knows how much we can spend to increase our business and expansion may not be possible. the customers are so uncertain as to how they will spend their money that eating out may be considered a luxury. it really hinders our expansion possibilities. this is not a partisan issue. this is an american issue. the american people have been on a roller coaster for the past four years. it's time for them to get on stable ground. [ male announcer ] it's simple physics... a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a d
over to you. >>> in our next hour, more nonsense. have you heard about the fiscal cliff? we go deeper into another cliff that's more of a threat to our economy. it is the container cliff. >>> i own maria's italian kitchen. we employ 400 people. the fiscal cliff is going to impact our business, who knows how much we can spend to increase our business and expansion may not be possible. the customers are so uncertain as to how they will spend their money that eating out may be...
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. >> thank you, krystal ball, that wraps up our hour of the coverage of the fiscal cliff negotiations. thank you for joining us, and happy new year to you. msnbc's live coverage continues after this. >>> i am melissa rayburger, and we are continuing our coverage of the capitol hill, an agreement reached with the democrats and republicans to reach the deal. vice president joe biden came to meet with the democrats and try to sell the new deal that would prevent the across-the-board tax increases and spending cuts to a wide range of government programs. we've also learned that president obama personally called harry reid and nancy pelosi to ensure that they are on board with this plan. our chuck todd says it is not likely that we would see a deal on that vote before midnight, just on the logistical standpoint the house remains adjourned until tomorrow. mike, what is the latest you're hearing about a possible vote tonight, maybe not before midnight at this point, but sometime during the night? >> yeah, i don't think it will happen before midnight, just too many procedural hoops to jump th
. >> thank you, krystal ball, that wraps up our hour of the coverage of the fiscal cliff negotiations. thank you for joining us, and happy new year to you. msnbc's live coverage continues after this. >>> i am melissa rayburger, and we are continuing our coverage of the capitol hill, an agreement reached with the democrats and republicans to reach the deal. vice president joe biden came to meet with the democrats and try to sell the new deal that would prevent the across-the-board...
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cliff. we're just talking about politics, we're not talking about finances here. they have to go over the cliff. that strengthens boehner's hands because now everybody is paying a hell of a lot more taxes and people are blaming the republicans, and now boehner can go to the caucus and maybe get 200 and a few votes and then with nancy pelosi pick off a few democrats and make some kind of deal. having said that, the best thing for the country is never to come to a deal because ed rendell is right. as a former governor, we don't operate with big deficits. you can't do that and we're in trouble in this country financially. the long term and in the short term, yes, we'll have a recession. it won't be a bad one but it will be one and nobody wants a recession. in the long term i think wall street goes crazy and you will see 15,000, 17,000 in the dow because finally somebody has done something serious about the deficit. i don't believe they will if they come to an agreement. >> you know, governor re
cliff. we're just talking about politics, we're not talking about finances here. they have to go over the cliff. that strengthens boehner's hands because now everybody is paying a hell of a lot more taxes and people are blaming the republicans, and now boehner can go to the caucus and maybe get 200 and a few votes and then with nancy pelosi pick off a few democrats and make some kind of deal. having said that, the best thing for the country is never to come to a deal because ed rendell is...
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we need to get the the stop story right now, and that is teetering on the fiscal cliff. let's go to d.c., where all the action has been in the past 48 hours. john harwood has the latest. john? >> >> melissa, the first headline is, we are going over the cliff tonight, because we're not going to have action in both houses of congress on a deal. we don't have a deal yet. the house isn't going to vote. we don't know if the senate is going to hold any votes. the senate is still waiting for the outcome of the biden-mcconnell talks that are hung up over a couple of things including the issue of the across the board spending cuts which democrats want staved off for a year or so. republicans want to begin that cutting process right now. but let's talk for a moment about what we know about what has been agreed to, have to caution that until everything's agreed to, nothing is set in stone. bull here's what we know. the -- it appears that the top rate on taxes is going to go up to the clinton era level, 39.6% for individuals making more than $400,0 $400,000, for families making, mar
we need to get the the stop story right now, and that is teetering on the fiscal cliff. let's go to d.c., where all the action has been in the past 48 hours. john harwood has the latest. john? >> >> melissa, the first headline is, we are going over the cliff tonight, because we're not going to have action in both houses of congress on a deal. we don't have a deal yet. the house isn't going to vote. we don't know if the senate is going to hold any votes. the senate is still waiting...
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Dec 27, 2012
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not appear there will be any resolution to averdict the looming fiscal cliff, at least based on what they were saying. still, with so much uncertainty in washington, what will the markets look like tomorrow? let's break it all down. so, lots of market expectations on a deal. some good, some bad. alan, why don't you give your expectations on how you think stocks are going to open up tomorrow, based on what we have heard so far today? >> well, i thought it was an amazing come back we saw today. we you have a the bonds up half a percent, so, the safety buying was not sustained. we saw the market come all the way back and apple moved positive. i'm rather optimistic. we went up 5% in the s&p, going into this. going into this week. and i think that you've got to realize, this is the most analyzed fiscal situation in the history of the world. so, this is not a surprise. i'm still very positive. i'm looking for the s&p to rally, 130 points, which was the distance of that selloff that we saw to get up to 1600 once again and i look for it to go higher. >> jim, the house reconvenes sunday night
not appear there will be any resolution to averdict the looming fiscal cliff, at least based on what they were saying. still, with so much uncertainty in washington, what will the markets look like tomorrow? let's break it all down. so, lots of market expectations on a deal. some good, some bad. alan, why don't you give your expectations on how you think stocks are going to open up tomorrow, based on what we have heard so far today? >> well, i thought it was an amazing come back we saw...
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just seven hours now until the nation goes over the fiscal cliff. and after weeks of negotiations and public posturing, democrats and republicans have reached an agreement on tax rates in their negotiations. let me tell you what we know at this hour. the deal is said to raise $600 billion in revenue over the next decade through a series of tax increases on the wealthiest americans. th bush era tax rates would be text ended for all single americans with incomes below $400,000 and couples with income below 45000$450,000. all income above that would be tacked at 39 pittsburgh.6%. the deal is said to include a permanent fix for the alternative minimum tax and it extends unemployment insurance for another year for 2 million americans. this was huge for the democrats. speaking at the white house in front of a group of middle class americans just a few hours ago, the president urged congress to act immediately. >> for now our most immediate priority is to stop taxes going up for middle class families starting tomorrow. i think that is a modest goal that we
just seven hours now until the nation goes over the fiscal cliff. and after weeks of negotiations and public posturing, democrats and republicans have reached an agreement on tax rates in their negotiations. let me tell you what we know at this hour. the deal is said to raise $600 billion in revenue over the next decade through a series of tax increases on the wealthiest americans. th bush era tax rates would be text ended for all single americans with incomes below $400,000 and couples with...
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>> it is time to roll up the sleeves and get down to business on the fiscal cliff. democrats and republicans have made the trip to the white house. i'm ashley webster,. it is the last hour of trading, and count down to the closing bell starts now. we have breaking news from washington. rich edson at the white house where president obama is about to meet with key members of congress, and, rich, there's talk of a scaled down deal put forth by the president. what have you heard? >> it that is the discussion. you have harry reid, mitch mcconnell arriving at the white house, should have house leadership shortly to begin a meeting, a last ditch effort to try to help the economy avoid the fiscal cliff, or at least pieces of it, and, yes, the buzz around washington is a possible path forward that aids describe as preventing tax increase for income amounts of $400,000 or $500,000 or so, extend unemployment insurance, but, still, nothing has been agreed to. all in washington are waiting to see how this meeting goes. it's just about to start here in dc. meanwhile, on capital h
>> it is time to roll up the sleeves and get down to business on the fiscal cliff. democrats and republicans have made the trip to the white house. i'm ashley webster,. it is the last hour of trading, and count down to the closing bell starts now. we have breaking news from washington. rich edson at the white house where president obama is about to meet with key members of congress, and, rich, there's talk of a scaled down deal put forth by the president. what have you heard? >> it...
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just hours after the senate passed its version of the fiscal cliff bill. >> house democratic leaders speaking now. let's listen in on what they have to say. >> gave us a thoughtful and detailed explanation of what's gone on and how it was that he and the president working with the democratic and republican leaders in both houses were able to come together on this compromise. we first want to say thank you to the vice president for being so gracious. quite honestly so frank in his conversation with us in explaining as much as he could about what's transpired over the last several weeks. we now are waiting to hear from our republican colleagues whether or not they want to do what the senate did in a very bipartisan fashion and give the american people an opportunity to have a vote. there are people throughout this country who might look at this deal and love it, some might hate it, some may not understand it. but we firmly believe that every american this this country should have a right to vote in the people's house. the senate sent us a bill. we are hoping the house will respect the
just hours after the senate passed its version of the fiscal cliff bill. >> house democratic leaders speaking now. let's listen in on what they have to say. >> gave us a thoughtful and detailed explanation of what's gone on and how it was that he and the president working with the democratic and republican leaders in both houses were able to come together on this compromise. we first want to say thank you to the vice president for being so gracious. quite honestly so frank in his...
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we're inside 30 hours from when we all go over the so-called fiscal cliff, if our elected leaders cannot fix the mess they've set into motion. they're hoping for, we understand now, a little divine intervention. >> have mercy upon us as we gather, with so much work left undone. >> well, they've tried everything else. now, praying for a solution to keep americans from feeling the impending higher taxes and keep spending cuts, the senate opening a special sunday session with the chaplain. >> move us and save us from self-inflicted wounds. >> harris: our coverage continues as lawmakers are still at it tonight. and a new video after plane crash that appeared to leave no survivors and the death toll rising and see the huge airliner cracking. and investigations now point to equipment on board. also, feeling the bite of winter weather, again. the northeast taking the brunt of the new system just as many of you head this way to ring in the new year. your travel forecast. it has all come down to this again. crunch time in our nation's capital, and they could very well hang in the balance, and tal
we're inside 30 hours from when we all go over the so-called fiscal cliff, if our elected leaders cannot fix the mess they've set into motion. they're hoping for, we understand now, a little divine intervention. >> have mercy upon us as we gather, with so much work left undone. >> well, they've tried everything else. now, praying for a solution to keep americans from feeling the impending higher taxes and keep spending cuts, the senate opening a special sunday session with the...
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Dec 26, 2012
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we're going to talk fiscal cliff expectations and what d.c. negotiations could mean for the final few trading days of 2012 when we return. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... and you wouldn't have it any other way.e. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doct
we're going to talk fiscal cliff expectations and what d.c. negotiations could mean for the final few trading days of 2012 when we return. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the...
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in other words, less than 48 hours before we go over the fiscal cliff. meanwhile, president obama cut his hawaii vacation short to return to washington today. but has he been working on a deal? "outfront" tonight, reports from both ends of pennsylvania avenue. chief white house correspondent, jessica yellin, and senior congressional correspondent, dana bash. jessica, first, to you, the president's back in washington, wheels down. he left his christmas vacation early. but was this just a bit of showmanship, or has he been working on something specific? >> reporter: hey, john. well, today has been a bit of a quiet day here at the white house. publicly, the president has been scarce, no sign of him. behind closed doors, i'm told a few meetings internally, but mostly, relatively quiet. i expect we will see more from the president, perhaps we could even see him publicly tomorrow. perhaps he could even meet with or talk to some of the congressional leaders. the president's role in all of this, he can get each of the leaders to come closer on what the white hou
in other words, less than 48 hours before we go over the fiscal cliff. meanwhile, president obama cut his hawaii vacation short to return to washington today. but has he been working on a deal? "outfront" tonight, reports from both ends of pennsylvania avenue. chief white house correspondent, jessica yellin, and senior congressional correspondent, dana bash. jessica, first, to you, the president's back in washington, wheels down. he left his christmas vacation early. but was this just...
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meantime just a few hours to go, still no deal on the fiscal cliff. how are the markets going to be impacted heading into the new year? head of research joining us from new york, andrew, happy new year to you. all kinds of predictions because there's this big blob of uncertainty facing us in the near term. overall, what's your sense for how the next year goes? >> our major message to clients is that we expect equities to be up between 5% and 10% next year. the first quarter probably will be a little bit choppy with fiscal policy uncertainty, but having said that, earnings will grow, china market is much better, u.s. residential housing is in good shape. so we expect stocks to be higher 12 months from thousand. >> you think the market trade is cheap cyclicals.thousand. >> you think the market trade is cheap cyclicals. explain the logic. >> it's very clear that the u.s. housing market is in much better shape, so there are industrial stocks stanley works as an example that should be growing through the year almost regardless of whether the fiscal cliff g
meantime just a few hours to go, still no deal on the fiscal cliff. how are the markets going to be impacted heading into the new year? head of research joining us from new york, andrew, happy new year to you. all kinds of predictions because there's this big blob of uncertainty facing us in the near term. overall, what's your sense for how the next year goes? >> our major message to clients is that we expect equities to be up between 5% and 10% next year. the first quarter probably will...
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hope to get a deal and avoid the fiscal cliff. we look at what happens if the deal does not happen. spoiler alert, it will cause you money. grapevine, david gregory could be in trouble for a segment on his sunday show. we show you what happened. "special report" starts at 6:00 p.m. eastern standard time. now back to new york and "the five." ♪ ♪ ♪ >> kimberly: is it a horrible offense to be too good look? apparently so in iowa. they ruled a dentist james night had a right to fire his dental assistant melissa nelson for being too irresistible. and a perceived threat to his marriage. nelson worked in the office for ten years said she viewed knight as father figure and was fired after his wife complained about his infatuation with her. >> after working for so many years side-by-side, i didn't have any idea that that would have crossed his mind. i think it sends a message that men can do whatever they want in the workforce. >> kimberly: not nice. but apparently the iowa supreme court disagrees with me. eric you are laughing. >> e
hope to get a deal and avoid the fiscal cliff. we look at what happens if the deal does not happen. spoiler alert, it will cause you money. grapevine, david gregory could be in trouble for a segment on his sunday show. we show you what happened. "special report" starts at 6:00 p.m. eastern standard time. now back to new york and "the five." ♪ ♪ ♪ >> kimberly: is it a horrible offense to be too good look? apparently so in iowa. they ruled a dentist james night had...
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and so when you have that sort of double whammy, sandy, newtown shootings, fiscal cliff, all these things can combine to depress shoppers' appetite to spend at this point. >> we'll talk a lot more over the next couple of hours where the discounts really came. there's a lot of talk about walmart and gap, and macy's and target. and then what that's going to meet as they try to clear out all this inventory, really starting today, going into the first part of the new year. those things have to get off the shelves. and that's going to affect margins one way or the other. >> let's bring in jackie deangelo, crunching the numbers back at headquarters. >> i'm going to recap what you said a little bit earlier. according to mastercard's spending poll, the few weeks leading up to christmas rose only .7%. a pretty big miss there. to give you perspective, after a drop of 5.5% in 2008, holiday sales have seen a steady rebound since then, including a 2% increase last year. this less than 1% figure, bound to be disappointing. online shopping also showed some muted results. spending polls show web sales we
and so when you have that sort of double whammy, sandy, newtown shootings, fiscal cliff, all these things can combine to depress shoppers' appetite to spend at this point. >> we'll talk a lot more over the next couple of hours where the discounts really came. there's a lot of talk about walmart and gap, and macy's and target. and then what that's going to meet as they try to clear out all this inventory, really starting today, going into the first part of the new year. those things have...
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that stokes investor hopes for a fiscal cliff deal and this coming just a few hours after harry reid's comments sent the dow into a tailspin. we have complete coverage in this developing story which is happening tonight as we speak. also, as supplies from the obama team, ep achieve lisa jackson stepping down. can the coal companies finally breathe a sigh of relief? guess what happened in britain when the uk banned handguns. the surprising result that could change the gun control debate. "the kudlow report" start ises right now. >>> the big news tonight, still the developments in washington on the fiscal cliff, eamon javers joins us with the details. >> good evening, meshel. capitol hill sources tell cnbc that congressional leaders are planning to go to the white house tomorrow to meet with president barack obama and it is not entirely clear at this point when that meeting will take place and details are still being hammered out and we saw today a blistering series of rhetorical jabs from one side to the other and it's not clear as a result of all that whether a deal can, in fact, get h
that stokes investor hopes for a fiscal cliff deal and this coming just a few hours after harry reid's comments sent the dow into a tailspin. we have complete coverage in this developing story which is happening tonight as we speak. also, as supplies from the obama team, ep achieve lisa jackson stepping down. can the coal companies finally breathe a sigh of relief? guess what happened in britain when the uk banned handguns. the surprising result that could change the gun control debate....
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Dec 27, 2012
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only four hours to go until america goes over the fiscal cliff. the dow jones industrial average down 113 points. had been down 148 points. look at that as we come on the air back above 13,000 level, not by much. the nasdaq, the biggest decline. 33 points. below 3,000 now at 2957. actually, hasn't been below 3,000 before that. s&p lower by 14 points. a decline of 1%. 1405 so holding onto the 1400 level. president obama is back at the white house. all eyes are on senate lawmakers now. amam jabbers is in washington. >> reporter: president obama did cut his vacation short in hawaii. he has arrived back at the white house this morning. the president emerging from marine one. what he's going to work on here in washington is pretty much anybody's guess at this point. the senate came back into session this morning and senate majority leader harry reid took to the senate floor to explain that he thought a $250,000 and above extension of the tax -- bush tax cuts could, in fact, pass and he was extremely, extremely angry in ways that you really hear on the
only four hours to go until america goes over the fiscal cliff. the dow jones industrial average down 113 points. had been down 148 points. look at that as we come on the air back above 13,000 level, not by much. the nasdaq, the biggest decline. 33 points. below 3,000 now at 2957. actually, hasn't been below 3,000 before that. s&p lower by 14 points. a decline of 1%. 1405 so holding onto the 1400 level. president obama is back at the white house. all eyes are on senate lawmakers now. amam...
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for them to sign off on a package to avert the fiscal cliff. >>> from shopping season to returns season. i've been doing a little bit of that. we'll show you why returns are expected to jump by more than 30% this year. the one thing, the one thing that could derail the social media powerhouses in 2013. find out what it is today on "power." meantime, "halftime report" returns after this. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ >>> welcome back. all eyes have been on the yen as it's been sinking versus the dollar hitting a fresh two-year low just today. lets gait your money in motion trade now. boris joins us from b.k. asset management. >> good to be with you. >> everybody in their brother it seems is getting on this train. >> yes. >> it's getting a little crowded, isn't it? >> it is getting a little crowded. i still like the trade. i thin
for them to sign off on a package to avert the fiscal cliff. >>> from shopping season to returns season. i've been doing a little bit of that. we'll show you why returns are expected to jump by more than 30% this year. the one thing, the one thing that could derail the social media powerhouses in 2013. find out what it is today on "power." meantime, "halftime report" returns after this. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and...
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we have more from our guests, and coming up at the top of the hour, the fiscal cliff is just hours away with the defense industry expected to be hard-hit immediately. we will tell you how the pentagon is preparing for drastic spending cuts, that's coming up at 8:00 a.m. i need you. i feel so alone. but you're not alone. i knew you'd come. like i could stay away. you know i can't do this without you. you'll never have to. you're always there for me. shh! i'll get you a rental car. i could also use an umbrella. fall in love with progressive's claims service. [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. fwl >> coming up, still no deal
we have more from our guests, and coming up at the top of the hour, the fiscal cliff is just hours away with the defense industry expected to be hard-hit immediately. we will tell you how the pentagon is preparing for drastic spending cuts, that's coming up at 8:00 a.m. i need you. i feel so alone. but you're not alone. i knew you'd come. like i could stay away. you know i can't do this without you. you'll never have to. you're always there for me. shh! i'll get you a rental car. i could also...
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not just the fiscal cliff, we've been talking about dairy farmers and wind farmers facing their own cliff. the price of a gallon of milk could cost $8 next year if congress fails to renew certain agricultural programs come december 31st. that's when wind farmers will also see the federal wind production tax credit disappear, which could lead the industry at a standstill. in addition to the fiscal cliff, milk cliff, and wind farm cliff, what other cliff are you worried about these days? tweet us. we have a new handle @squawkstreet and junior responses throughout the morning. >> some people on twitter have criticized how we just called it the container cliff. saying not everything is a cliff. >> but everything is a cliff. there is a deadline. >> containers will come in tor they won't. it's binary. >> we were chatting during the break, we're not allowed to own stocks, individual names, but if there was a name you wish you'd bought in the face of bad news last year? >> jpmorgan. it seemed that everyone wanted to sell off the stock, and this would be a huge impact on jpm. it had some per
not just the fiscal cliff, we've been talking about dairy farmers and wind farmers facing their own cliff. the price of a gallon of milk could cost $8 next year if congress fails to renew certain agricultural programs come december 31st. that's when wind farmers will also see the federal wind production tax credit disappear, which could lead the industry at a standstill. in addition to the fiscal cliff, milk cliff, and wind farm cliff, what other cliff are you worried about these days? tweet...
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do you have any plans for fiscal cliff night? let's get to the "fast money" halftime. >>> all right, carl. thanks so much. welcome to the "halftime" show. four hours to go until the close. the dow has taken a turn to the negative. down 33 points. as you can see, the s&p and the nasdaq are following suit. here's what we're following on the "halftime" show. lucky '13. which stocks look like a good bet. >>> cliff countdown. just three trading days remain for lawmakers to reach a deal and avoid going over the cliff. will they rise above and what happens to the markets if they don't? first our top story, shopped out. new data showing holiday sales grew at the slowest pace in four years. what does it all say about the health of the nation's retailers and the money you have in their stock? our traders for the hour are peat and john negarian and steven weiss. pete, begin with you, 16 of the 17 worst performers in the s&p today are retailers. >> understandably so. the expectations were so high. a lot of the analysts were looking for a bum
do you have any plans for fiscal cliff night? let's get to the "fast money" halftime. >>> all right, carl. thanks so much. welcome to the "halftime" show. four hours to go until the close. the dow has taken a turn to the negative. down 33 points. as you can see, the s&p and the nasdaq are following suit. here's what we're following on the "halftime" show. lucky '13. which stocks look like a good bet. >>> cliff countdown. just three trading...
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apparently not his immediate action, though, with the nation facing a crippling fiscal cliff in just three days, the president calls congressional leaders together and says, you fix it. no, he doesn't offer any new plan from the white house, no compromise. instead the president tells the senate to come up with a deal and the same senate that hasn't passed a budget in years. and the marks don't like it at all, 158 points now tanking and falling further in the after market and we'll have to see how asia opens on monday. it could be ugly. the headlines are falling fast and furious. we're all over it "the kudlow report" starts right now. >>> welcome. i'm michelle caruso-cabrera in for larry kudlow. a lot happened in just the last couple of hours. >> michelle, there's considerably more optimism after the white house meeting between the president and the four bipartisan leaders than there was earlier in the day. mitch mcconnell and harry reid say they're going to come out and try to hammer out a bipartisan deal that can pass the senate with enough republican votes to convince the house to
apparently not his immediate action, though, with the nation facing a crippling fiscal cliff in just three days, the president calls congressional leaders together and says, you fix it. no, he doesn't offer any new plan from the white house, no compromise. instead the president tells the senate to come up with a deal and the same senate that hasn't passed a budget in years. and the marks don't like it at all, 158 points now tanking and falling further in the after market and we'll have to see...
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if you don't think people are feel the effects of the fiscal cliff, think again. we look at very real effects of the cliff on holiday sales and the numbers coming out are not all that pretty. plus, don't count out mother nature as the east coast faces another nor'easter. >> meantime, starbucks is worried about the fiscal cliff. the nation's biggest coffee chain is planning to take its message to washington. would that be enough to jolt lawmakers into action? >> and as the year winds to a close, the head of aetna is back with us winding up for higher taxes in 2013 thanks to obama care. wait until you hear how high he thinks they could go. you're watching cnbc, first in business worldwide. stamps.com is the best. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com you can print real u.s. postage for all your letters and packages. i have exactly the amount of postage i need, the instant i need it. can you print only stamps? no... first class. priority mail. certified. international. and the mail man picks it
if you don't think people are feel the effects of the fiscal cliff, think again. we look at very real effects of the cliff on holiday sales and the numbers coming out are not all that pretty. plus, don't count out mother nature as the east coast faces another nor'easter. >> meantime, starbucks is worried about the fiscal cliff. the nation's biggest coffee chain is planning to take its message to washington. would that be enough to jolt lawmakers into action? >> and as the year winds...
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to work, another sign of inaction on the fiscal cliff front. joining me now for our daily fix, mr. jonathan capehart, msnbc contributor and "washington post" editorial writer. jonathan, we're just six days away, no indication from house republicans that they are going to come back any time soon. the leadership has gone mum on that. we know there's not been communication between boehner and mcconnell, obama and boehner. are you amazed with this short amount of time to go there seems to be no sense of urgency on either side? >> am i amazed, given what we went through with the debt ceiling, no, i'm not amazed. i think there are forces here in this town that would like for us, sure people would like for there to be a deal, but going over the cliff on january 1st when there's this notion where it's not really a cliff, it's a slope, it's a curb depending who you talk to, that you can repair the damage if you get a deal done, you know, a few days after january 3rd. i think people feel like they can slow walk. as we saw last week when plan b failed, yo
to work, another sign of inaction on the fiscal cliff front. joining me now for our daily fix, mr. jonathan capehart, msnbc contributor and "washington post" editorial writer. jonathan, we're just six days away, no indication from house republicans that they are going to come back any time soon. the leadership has gone mum on that. we know there's not been communication between boehner and mcconnell, obama and boehner. are you amazed with this short amount of time to go there seems to...
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so too will the fiscal cliff. $600 billion worth of tax increases and spending cuts. it is supposed to be automatic. but now republicans are suggesting a delay, the president just spoke trying to add pressure to congress to avoid going over the fiscal cliff. listen. >> my preference would have been to solve all these problems in the context of a larger agreement, a bigger deal, a grand bargain, whatever you want to call it, that solves our deficit problems in a balanced and responsible way that doesn't just deal with the taxes, but deals with the spending in a balanced way, so that we can put all this behind us focusing on growing our economy. but with this congress, that was obviously a little too much to hope for at this time. >> let's turn now to chief white house correspondent jessica yellin. let's talk a little bit about the outlines of the deal, the fact that the president came out to make his case and try to push this thing over the finish line. what does the white house have to do to gain the backing it needs. >> reporter: well, what we heard from the presiden
so too will the fiscal cliff. $600 billion worth of tax increases and spending cuts. it is supposed to be automatic. but now republicans are suggesting a delay, the president just spoke trying to add pressure to congress to avoid going over the fiscal cliff. listen. >> my preference would have been to solve all these problems in the context of a larger agreement, a bigger deal, a grand bargain, whatever you want to call it, that solves our deficit problems in a balanced and responsible...
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there are just two days left before we go over the fiscal cliff, barring an 11th hour deal. joining us now former senate and governor from new hampshire judd gregg now an adviser to goldman sachs international. and julian epstein, democratic strategist with law media group. judd, now that you're a goldman sachs man, i assume that goldman sachs people call you and say what's going to happen? what do we tell our clients who are asking us what to do and how to play this? and you tell them what? >> well a few people occasionally call me. andrew it's gregg judd if you want to get the name right. >> what did i say? >> you said judd gregg. >> he's one of the judds. >> it is judd gregg. >> thank you. >> he's totally -- >> yanking both of your -- >> i've been having such a hard morning i believed you for about a second. >> you've got to say it's epstein like frankenstein. >> i'm good with whatever you're good with. >> my view has been all along that these folks are going to reach an agreement. unfortunately it doesn't look that way right now. they do have this meeting and i think if
there are just two days left before we go over the fiscal cliff, barring an 11th hour deal. joining us now former senate and governor from new hampshire judd gregg now an adviser to goldman sachs international. and julian epstein, democratic strategist with law media group. judd, now that you're a goldman sachs man, i assume that goldman sachs people call you and say what's going to happen? what do we tell our clients who are asking us what to do and how to play this? and you tell them what?...
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about a fiscal cliff resolution of some kind. is there nothing you would buy between now and the end of the year? >> nothing. maybe some inverse etfs, bill, quite honestly. i want to see not just fiscal cliff resolution but i want to see q 1 earnings. i'm sorry. q 4 earnings. last quarter's earnings were not all that exciting. we really saw the european effect take hold in a lot of these companies really laboring and a lot have bounced back. i think again it is this liquidity driven move that we've seen in the marketplace and i think, you know, despite it being wrong myself, that is fine, i think the market is getting it wrong and i think the greatest christmas gift people are getting here is the dow above 13,000 and the ability as our previous guest as kevin said to fake sotake some money off t table. i don't think it means rushing into bonds but sitting on some cash and waiting things out. i think there will be a better opportunity down the road. >> what is your take in terms of capital gains and dividend taxes? as far as i'm c
about a fiscal cliff resolution of some kind. is there nothing you would buy between now and the end of the year? >> nothing. maybe some inverse etfs, bill, quite honestly. i want to see not just fiscal cliff resolution but i want to see q 1 earnings. i'm sorry. q 4 earnings. last quarter's earnings were not all that exciting. we really saw the european effect take hold in a lot of these companies really laboring and a lot have bounced back. i think again it is this liquidity driven move...
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. >> new information on the fiscal cliff talks in washington. united states senate convened about an hour ago. this is a live picture of oregon democratic senator ron wyden on the floor discussing the deadline. we have learned that the president called the democratic majority lead, minority leader and house speaker and senate minority leader. now coming up at 8:15 the fiscal cliff negotiations and the effort to prevent one of the largest tax increases and budget cuts in united states history. >> we are still watching the accident in napa. >> we have a lot of traffic around fifth street near downtown. the westbound lane blocked due to a two car crash. a woman was trapped inside of her car. we will take a look at the bay bridge. you can see traffic flowing nicely. 880 near the oakland coliseum we have traffic gluing well in both directions. no delays to report. in the south bay 280 at 880 split those headlines northbound traffic toward santa claire a. >> hi. we are -- taking a live look outside. showing you cloud coast mostly cloudy skies over mos
. >> new information on the fiscal cliff talks in washington. united states senate convened about an hour ago. this is a live picture of oregon democratic senator ron wyden on the floor discussing the deadline. we have learned that the president called the democratic majority lead, minority leader and house speaker and senate minority leader. now coming up at 8:15 the fiscal cliff negotiations and the effort to prevent one of the largest tax increases and budget cuts in united states...
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is the market getting used to the idea that a fiscal cliff solution will not happen before year end? >> only a few hours remain to finish your christmas shopping. but some words of caution for toymakers. are tablets and apps ruining the season as kids get more accustomed to technology? >> microsoft windows 8 gets more bad press today, as "the new york times" said it is not leading to a boost in pc sales. is there anything that can turn that lagging sector around? futures moving lower, as concerns about the fiscal cliff talks weigh on the market. talks about progress toward a deal sent the down lower by almost 521 points on friday. s&p up almost 14% on the year. it's interesting, this year we've had so many unnatural phenomenon taking place, whether it's the effects of the fed's monetary policy, year end, fiscal cliff tax related issues. the motivations are a little bit different this time around than they were last year. >> yeah. it's not as pressing, some would argue. some were actually saying on friday, maybe it would have been better if the markets had a sharper sell-off because t
is the market getting used to the idea that a fiscal cliff solution will not happen before year end? >> only a few hours remain to finish your christmas shopping. but some words of caution for toymakers. are tablets and apps ruining the season as kids get more accustomed to technology? >> microsoft windows 8 gets more bad press today, as "the new york times" said it is not leading to a boost in pc sales. is there anything that can turn that lagging sector around? futures...
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. >>> fiscal cliff talks heading into the 11th hour. >> u.s. economy is at stake here. >> you cannot pass a bill with just republicans. on a broad thing like this, you need both. >> but will anyone rise above and get it done? a debate from both sides of the aisle. plus guest host jason trennert on the impact for the markets. >> the final details on retail. the winners and losers as last-minute shoppers make one final rush to get the latest deals. >> i got it. i got it. >> the second hour of "squawk box" starts right now. ♪ chestnuts roasting on an open fire. jack frast nipping at your nose. yuletide carols -- >> good morning. welcome to "squawk box" on cnbc. >> love that sweater. that's unbelievable. we've got to fade in and out between the fire and that sweater. >> that's joe kernen, i'm andrew ross sorkin. becky quick is probably happily off at this point. in studios with his,000s on the market and the fiscal cliff this morning, jason trennert. >> that tie. >> he's got the red tie. >> santa tie. >> take a look at the futures, see how this h
. >>> fiscal cliff talks heading into the 11th hour. >> u.s. economy is at stake here. >> you cannot pass a bill with just republicans. on a broad thing like this, you need both. >> but will anyone rise above and get it done? a debate from both sides of the aisle. plus guest host jason trennert on the impact for the markets. >> the final details on retail. the winners and losers as last-minute shoppers make one final rush to get the latest deals. >> i got...
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the question is, could it be too late to avoid the fiscal cliff? we'll look into that, a look at the new taxes you could be paying next week. >> clayton: after getting caught an explosion in iraq he was told he would never walk again. now this marine is climbing and will join us live with his incredible story. "fox & friends" hour three begins right now. er. >> clayton: welcome t. hello, hello. >> juliet: this is really a -- i guess this the best set we've ever had nor me. >> clayton: so beautiful. >> kelly: we hope steve, brian and gretchen are enjoying time off. >> clayton: and kelly wright, juliet and clayton in this morning. noise holiday and i'm looking forward to split up 'cause i get the birthday. subtle way to drop a hint. >> juliet: you're working new year's day? >> clayton: yeah, i'll be here. happy new year. >> kelly: and merry christmas if we got to you too late. we're getting a look at president obama who did enjoy a good christmas with his family in hawaii. he's boarding air force one and leaving hawaii. the president is in the air ri
the question is, could it be too late to avoid the fiscal cliff? we'll look into that, a look at the new taxes you could be paying next week. >> clayton: after getting caught an explosion in iraq he was told he would never walk again. now this marine is climbing and will join us live with his incredible story. "fox & friends" hour three begins right now. er. >> clayton: welcome t. hello, hello. >> juliet: this is really a -- i guess this the best set we've ever...
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it could be the last shot to avoid going over the so-called fiscal cliff. but is the meeting just for show or could we really truly be close to a deal? doug is live in washington with more details, what are we in for? >> to be a fly on the wall in this meeting. these are the players that will be there today. the president with congressional leaders from both parties to see if they can get something done. it may be substantive, it may be window dressing. >> any time you announce a meeting publicly in washington, it's usually for political theater purposes. nothing good ever comes from it. there is one thing you have to do in politics. if the president meets with a foreign leader, you want to make sure you know what's going to happen at the meeting. when the president calls congressional leaders to the white house, it's all political theater or they've got a deal. my bet is all political theater. >> kelly: well, we will see. >> congress thee receipticcally could get something done. we saw the congress work yesterday. the house is going to be back here getting
it could be the last shot to avoid going over the so-called fiscal cliff. but is the meeting just for show or could we really truly be close to a deal? doug is live in washington with more details, what are we in for? >> to be a fly on the wall in this meeting. these are the players that will be there today. the president with congressional leaders from both parties to see if they can get something done. it may be substantive, it may be window dressing. >> any time you announce a...